Georgia Man Convicted in $2.7M Crypto and Scam Laundering Case

Federal prosecutors secured a conviction against an Atlanta man who laundered more than $2.7 million stolen from elderly scam victims. The scam network targeted older adults by building personal connections and tricking them into sending cash for fake business ventures, medical bills, and legal problems. The funds reached Babajide Adesayo through an intermediary who disguised the cash as car purchases at his dealership. Adesayo then routed the money overseas to locations including China, Hong Kong, and Nigeria.

A jury convicted Adesayo on two counts of conspiracy tied to money laundering, along with 16 separate transactional money laundering charges. Authorities pointed out that he kept running the illegal operations even after his initial indictment last year. Prosecutors stressed that these multi country transfers made it nearly impossible for victims to recover their lost retirement savings.

Adesayo now awaits sentencing on November 20. He faces up to 20 years in prison for each conspiracy count, plus up to 10 years for the transactional money laundering charges and another 10 years for committing crimes while released. This case highlights how law enforcement continues to crack down on individuals who help hide illicit funds connected to digital asset and wire fraud networks.